How to calculate what overtime is worth to you?

JustAnotherSaver

andydownes123 wrote: »

The post that said take a third off is probably close enough to make quick calculations. So if five hours are done at 10 quid an hour, it's probably worth £37 quid to you. Would pay for a few beers and a takeaway on Sat night. I probably wouldn't go in for just five hours though - needs to be a day to be worth my while cancelling a day off.

5 hours on a Saturday is one thing as the morning is not too bad. 9 hours however is a killer because the final 4 are just dead and nobody, even a good number of the regular customers can understand why the company stays open for those final 4 hours.

Savvy_Sue wrote: »

Not confident, but who's your pension with? That's the first step. Next step, where's your enrolment letter? That should have some information in it.

I don't think i have the letter to be honest but the pension is with Now Pensions.

That suggests to me that your pension contributions are based on your gross salary for the month. You're paid more gross, you make higher pension contributions. Does your employer also make higher pension contributions? That's another indication.

It ought to be possible to work out what % contributions you're making and see if that's consistent. I'm not great at calculating %es, I know you divide one by the other and multiply by 100 or something like that, but I never know which way round it is. I'm sure google would tell you how to do this ...

I and my employer pay the minimum contribution for the 2 reasons - 1) I wont pay more because they wont pay more (than the minimum) and 2) they wont pay more because they don't want to pay any, but have to.


And if it was on gross then surely the month where i did a stack of overtime should generate more in terms of pension contributions, as the gross was higher?

Savvy_Sue

JustAnotherSaver wrote: »

And if it was on gross then surely the month where i did a stack of overtime should generate more in terms of pension contributions, as the gross was higher?

Well I thought you said that's what had happened:

JustAnotherSaver wrote: »

Story short when i've worked X hours (a lot) i've contributed a certain amount but when i worked Y hours in another month (less) i contributed less than in the X-hours month for some reason.

Or was there a typo then?

I think you're going to have to ASK your employer what's going on. I deal with NEST, and if you were asking me I'd get you to login to your account and see what you could make of it there. You should be able to do that with NOW too. You SHOULD have been sent letters, they SHOULD have set out what the contributions were and what they were based on, these things are as important as your payslips IMO.

JustAnotherSaver

I thought we'd get something like an end of year report from Now or something like that. We don't seem to get anything.


As for what i said i said ....


when i've worked X hours (a lot) i contributed a certain amount. So let's say i did 200 hours in May for example.
But when i've worked Y hours in another month (less) - so let's say 150 hours in June
I contributed less (in the


^^ and it's at that point he realised what he'd done. :rotfl::rotfl::rotfl:
Yes it seems it was a typo. Also known as stop posting so late in the day because you'll make silly mistakes :T

Genuineguy03

So glad you cleared up what you meant by you being a BR tax payer. I can just see how everyone suddenly slapped their foreheads whilst saying to themselves "duhh... How obvious was that" lol

Unfortunately I don't have anything useful to add here as bit late, early even, for me to being doing mathematical equation's. Plus I don't want to course myself ant nightmares for when I eventually do fall asleep. The joys of being an insomianac.